If you are in the market for an office space, what you choose is extremely vital. Not only does it affect your day to day operations and your staff morale, but also your brand image. These five factors are crucial when considering what office space to choose!
1.Location
The location of your office space determines the image you create to your potential and existing clients. Your clients should have an easy time accessing the office, in a secure and reliable area. Additionally, choosing the correct location is vital for retaining employees. It is best to choose an office space that employees can commute to easily, otherwise they may decide to seek out a job closer to home.
2.Price
The cost of an office space is something that needs to be strategized effectively. Consider any hidden costs such as maintenance fees, parking fees or other additional charges. If the space you choose isn’t going to make you more money, then you need to question if it is necessary. Profitability should always be the most important factor. Moreover, the price should be within your budget.
3.Company Size
Both the location and price will influence the size of the office space you choose, but it is still an important point to mention. The size of the office space needs to match the size of your company. You don’t want to cram your employees in a tiny space with no room to move around, and neither do you want to overspend on a huge space that you don’t need. A general guideline is that each employee should have between 8 – 12 square meters. Although business vary per type and each may have different requirements. Knowing your sizing requirements will help you make the correct decision for your business.
4.Technology & Infrastructure
Businesses nowadays can hardly function without reliable and fast internet connectivity, making this an essential factor when choosing the correct office space. Some offices are already equipped with internet connectivity and may even be incorporated within your rent. If your office space does not provide internet connection or other add-ons, it is important to choose an office that can accommodate changes in the infrastructure according to your business needs and requirements.
5.Contingency Plan
Despite all the careful planning, preparations and considerations, some situations may force your company to terminate your lease. It is important to have an exit strategy, should the office space fail to meet your business requirements in the future. These unforeseen circumstances may include natural calamities, change in the business market, structural inadequacies, and more. Therefore, the need for a contingency plan is vital, as it allows you to leave or move if the need arises.
Whether you rent or buy your office space, choosing it is a big commitment. Fortunately, Dunhill Consulting Limited offers plenty of great options to choose from, as well as highly qualified agents ready to help you make the right call!